Thailand
Myanmar: NUG to replace Kyat with cryptocurrency
The NUG’s Ministry of Planning, Finance, and Investment has announced that USDT or USD Tether will be Myanmar’s official currency, instead of the Myanmar Kyat, ambcrypto.com reported.
Tether is a cryptocurrency that is hosted on the Ethereum blockchain with tokens issued by Tether Limited, which in turn is controlled by the owners of Bitfinex. Tether is called a stablecoin because it was originally designed to always be worth US$1.00.
CNBC reported that in June Boston Fed President Eric Rosengren raised the alarm about tether, calling it a potential financial stability risk.
Source: https://www.mizzima.com/article/nug-replace-kyat-cryptocurrency